Duplex with Double
For Sale
Under Contract
$469,900
141 Sandifer Road, Spartanburg, SC 29303
MULTIFAMILY, Spartanburg, SC
Property Size2,986 SF
Price / SF$157.37
Days on Market38
Property Features for 141 Sandifer Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Garage
Elementary school
2-Shoally Creek Elementary
Middle school
2-Rainbow Lake Middle School
High school
2-Boiling Springs
Elementary school district
2 Sptbg Co
Middle school district
2 Sptbg Co
High school district
2 Sptbg Co
Directions
North on Highway 9 Turn Right on Parris Bridge Rd. Turn Right on Sandifer. Duplex up long drive on left.
Subdivision
Boiling Springs
Standard status
Active Under Contract
Size
2,986 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
663
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Listing Agency:
Coldwell Banker Caine Real Est · Coldwell Banker Real Estate
(864) 585-8713
Listed By:
Lindsay Blanton · License #67700
(864) 237-7291
Added: Aug 4
Changed: Sep 8
Last Checked: Sep 10 at 6:06AM
MLS# 340221
Copyright © 2026 Spartanburg Association of REALTORS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2024, this duplex contains 2,986 square feet with matching residences. Each unit offers three bedrooms, 2/5 bathrooms, and a flex room, with the primary bedroom positioned on the main level and two additional bedrooms plus the flex room upstairs. Double garages serve both units, complemented by driveway parking.
The property occupies almost 1 acre in Spartanburg, South Carolina. Building systems include heat-pump heating and central air conditioning. Public water and septic service are in place, providing the core utility infrastructure for the two-unit residential property.
The property occupies almost 1 acre in Spartanburg, South Carolina. Building systems include heat-pump heating and central air conditioning. Public water and septic service are in place, providing the core utility infrastructure for the two-unit residential property.
Key Highlights
- Two‑unit duplex totaling 2986 Square Feet
- Each unit includes 3 bedrooms, 2/5 bathrooms, and a flex room
- Primary bedroom on the main level; 2 bedrooms and flex room upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$533,760
$533.8K
Cap Rate 7%
$381,257
$381.3K
Cap Rate 9%
$296,533
$296.5K
Market Conditions
NOI Build-Up for 2,986 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.1K $13.44/SF
− Vacancy
−$2.0K −$0.67/SF
EGI
$38.1K $12.77/SF
− OpEx
−$11.4K −$3.83/SF
NOI
$26.7K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$533,760
Cap Rate 7%
$381,257
Cap Rate 9%
$296,533
Alternative Uses
Best Use
Multifamily LT 5
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$351.2K
$307.3K – $409.7K
NOI $24,583 @ 7.0% cap · market cap 5.23%
Theoretical Best
Warehouse
$2.32M
$2.03M – $2.70M
NOI $162,267 @ 7.0% cap · market cap 34.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 29303, SC
26,793
Population
10,891
Households
2.5
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
32.4 sq mi
ZIP Area
827
Density / Sq Mi
$45,713
Median Household Income
$24,506
Median Earnings
$968
Median Rent
$143,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Recently built two-unit property with flexible layouts, individual garages, and ample on-site parking.
Where is this duplex located?
The property is located at 141 Sandifer Road Spartanburg, SC.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2986 Square Feet; Each unit includes 3 bedrooms, 2/5 bathrooms, and a flex room; Primary bedroom on the main level; 2 bedrooms and flex room upstairs
